Amicus Therapeutics (NASDAQ:FOLD) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Amicus Therapeutics (NASDAQ:FOLD) from a buy rating to a hold rating in a research note published on Thursday.

FOLD has been the subject of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research report on Friday, August 9th. Morgan Stanley lowered their price target on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Jefferies Financial Group initiated coverage on shares of Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target on shares of Amicus Therapeutics in a research report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Amicus Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $17.13.

Amicus Therapeutics Stock Down 1.4 %

Shares of NASDAQ FOLD opened at $11.42 on Thursday. The firm has a 50 day moving average price of $11.16 and a two-hundred day moving average price of $10.57. Amicus Therapeutics has a 52-week low of $9.02 and a 52-week high of $14.57. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.26 and a current ratio of 2.75.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $126.67 million during the quarter, compared to the consensus estimate of $121.21 million. Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. Amicus Therapeutics’s quarterly revenue was up 34.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) earnings per share. Analysts forecast that Amicus Therapeutics will post -0.06 earnings per share for the current year.

Insider Activity

In other news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total value of $79,500.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $9,398,532.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

A number of large investors have recently modified their holdings of FOLD. Xponance Inc. increased its stake in Amicus Therapeutics by 5.3% during the 2nd quarter. Xponance Inc. now owns 18,555 shares of the biopharmaceutical company’s stock valued at $184,000 after purchasing an additional 936 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Amicus Therapeutics by 156.9% during the third quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 1,569 shares during the last quarter. Arizona State Retirement System increased its position in shares of Amicus Therapeutics by 2.6% during the second quarter. Arizona State Retirement System now owns 62,020 shares of the biopharmaceutical company’s stock worth $615,000 after acquiring an additional 1,577 shares in the last quarter. American International Group Inc. raised its holdings in shares of Amicus Therapeutics by 1.3% in the 1st quarter. American International Group Inc. now owns 143,034 shares of the biopharmaceutical company’s stock worth $1,685,000 after acquiring an additional 1,785 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Amicus Therapeutics by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,727 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 1,884 shares in the last quarter.

Amicus Therapeutics Company Profile

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.